Havells India is displaying signs of breaking out of a prolonged consolidation period. The stock has given a breakout of the symmetrical triangle pattern.
Havells, Voltas, Symphony: Many white goods companies such as air conditioner maker Voltas Ltd or cooler maker Symphony, fan and cooler maker Havells India and maker of refrigerators Whirlpool of India rely on summer sales.
Unlike peers, V-Guard and Crompton who outsource 50-60 percent of their production, 90-95 percent of Havells manufacturing is in-house, which entails higher capex
On the daily chart, Bank of Baroda has started trading sideways and is giving no clear trend. However, the stock is outperforming the benchmark indices.